An ambitious refinancing program
The Board of Directors of Prysmian, a leader in the energy and telecommunications cable systems sector, recently authorized the establishment of a program for Euro Medium Term Notes (EMTN) bond issues worth 3 billion euros. This program, which will be listed on the regulated market of the Luxembourg Stock Exchange, will be valid for 12 months and represents a significant step for the group, aimed at strengthening its financial position
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Details on bond issues
The EMTN program involves the issuance of one or more senior unsecured non-convertible bonds, with a maximum nominal total amount of 3 billion euros. Each individual issue can reach up to 2 billion euros, distributed in one or more tranches. The bonds will be intended for institutional investors both in Italy and abroad, excluding the United States of America in accordance with the regulations of the United Securities Act of 1933
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Strategic objectives of the program
The main objective of this program is the refinancing of existing debt, which will allow Prysmian to strengthen its financial structure and extend its deadlines. This approach not only aims to improve the group’s financial strength, but also supports its long-term growth strategy. The group’s official note highlights the importance of these emissions in the context of normal business activities, highlighting Prysmian’s commitment to a sustainable and innovative future
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Impact on the market and future prospects
The launch of this bond program comes at a crucial time for financial markets, with Piazza Affari and other European stock exchanges showing signs of uncertainty. However, Prysmian’s transaction could represent an opportunity to attract investment and strengthen confidence in the sector. With positive results in the third quarter, as demonstrated by Generali Assurazioni, the group is preparing to navigate market challenges with a well-defined strategy and adequate resources
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